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- GBP/USD trades near 3-week high
GBP/USD trades near 3-week high
Today, the pair GBP/USD is trading in the range of $1.2530-80 - near the 3-week high. On the hourly chart, the pair rose above the MA (200) H1 moving average line ($1.2450). On the four-hour chart, the situation is similar. Technically speaking, the resistance of $1.2570 may keep prices from further growth. The lower boundary of $1.2450 represents a support level.
⦁ Resistance levels are: $1.2570, $1.2640, $1.2680
⦁ Support levels are: $1.2530, $1.2450, $1.2390
The main scenario of the pair's advance implies the session high of $1.2570 and there could be an increase to $1.2640 (May 11 high).
The alternative scenario implies a decline to the MA (200) H1 ($1.2450) and there could be a decline to $1.2390 (June 6-7 low).
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